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 Home insurance can be confusing. Have you ever looked at your Canton home insurance policy and found some line items that you were unsure of? That’s actually very common.
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 Becoming a real estate investor is a great way to earn a living and grow your wealth. Some investors focus on rental properties and passive income. Some focus on fix and flips. Some focus on residential and others on commercial properties. And some do a little bit of everything!
Whatever your focus is as a real estate investor, you want to make sure your income and assets are properly protected. The last thing a successful investor wants is to lose the assets and income they have worked so hard to build. This is why it is crucial for investors to work with an independent insurance broker to ensure they have the right type of policy or package for their situation. Some things to consider: The type of policy you have matters A long term rental property is going to be on a different type of policy versus a fix and flip. Fix and flip policies are going to cover properties while they are vacant, while a long term rental property policy will not. New construction policies, like a Builder’s Risk, will be totally different than other types of investment property insurance. In addition, long term rental properties are going to be covered differently than short term rentals like Air BnB’s. You need to work with your broker to make sure they have all of the facts and have your property and investment properly covered. The only thing worse than having no insurance is having the wrong insurance. Having the wrong type of insurance means that you’ve paid premiums only to have your claims denied! Something else to note is that commercial properties will need to be on a totally different policy form versus residential. To add to this, some companies will transition your residential rental portfolio to a commercial account once you have a certain number of properties. This differs from company to company. Having loss of rental income and adequate liability coverage is crucial Loss of rental income will pay your lost income while your property is being fixed or renovated due to a covered claim, which is very important to make sure your bottom line is in-tact. Having the proper amount of liability coverage is crucial to ensuring your income and assets are protected if you or your business is involved in a lawsuit. Consult with your attorney or CPA on how much your business needs, but generally speaking you’ll want to make sure you have enough to cover all of your assets. In the state of Georgia, losing a lawsuit means that you’re subject to wage garnishment and/or asset seizure if necessary. Getting a large amount of liability insurance is very affordable and can be purchased for pennies on the dollar. In most cases, it will be with a combination of your property policy’s underlying limits plus an umbrella policy. Lastly, you need to make sure that you aren't over-paying for your insurance. As an investor, your bottom line is all that really matters. Your profit margins can be diminished quickly if you aren't careful. This is why it is important to work with an independent insurance broker who can evaluate your coverage with several different companies to make sure that you’re getting the right coverage at the best price. At the Roberts Insurance Group we specialize in working with all types of real estate investors. If you’d like to see how we can help your portfolio and bottom line give us a call at 678-250-8133 or click here!  Workers Compensation claims can have a major impact on the premiums you pay and can put your business at a major disadvantage compared to your competition. One of the trends throughout the insurance industry is: the longer a claim is open, the higher the total payout. The larger the payout, the bigger the impact on your businesses premiums and bottom line.
One of the reasons that workers compensation claims get larger the longer that they are open is due to the injection of personal injury attorneys into the situation. Added attorney fees, longer lost wages, and higher medical bills are all contributing factors. According to the Insurance Information Institute, between 2002 and 2007 the medical cost per lost-time claim (workers compensation insurance claims where the injured employee is unable to work) rose 50 percent faster than the annual rate of medical inflation for the economy as a whole. The institute estimates that attorney fees increase claim costs by 12 to 15 percent with no net gain in benefits to the worker. Most states index the maximum payment for lost wages to the state’s average weekly wage, a figure that generally rises each year. Here are some things you can do as a business owner to help minimize the length of time a claim is open, which will minimize future increases to your premium:
 One of our top-rated carriers did extensive research and analysis to determine which trucks were the most affordable to insure in 2019. Although things can change year to year, this analysis and conclusion can serve as great resource for those that are in the market for a newer model truck and want to make sure you get something that won’t make your premiums skyrocket.
Americans love their pickup trucks, as demonstrated by the two bestselling models in the U.S. There are several reasons why full-size pickups account for more than two million new vehicle sales in 2019 – they’re versatile enough to handle the daily commute, get the kids to soccer practice, haul heavy loads to a construction site or simply load up with everything you stock up on while running weekend errands. Today’s trucks are more spacious and get better gas mileage, while offering the same features and comfort of a car, so there’s no wonder why these vehicles are in such high demand. If a truck checks off all the boxes for what you seek in your next vehicle, there’s one more vital box to check before you buy: insurance costs. We have taken care of the heavy lifting for you by putting together a list of the most affordable trucks to insure. The research and development team examined 2019 and 2020 trucks available at car dealerships today to compile this list, which was created based on prices for full coverage– liability, comprehensive and collision. Here is the top-10 list for 2019-2020 trucks, beginning with the most affordable make and model to insure:
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February 2022
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